A sample of 61 houses recently listed for sale in Silver Spring, Maryland, was selected with the objective of developing a model to predict the taxes (in $) based on the asking price of houses (in $thousands) and the age of the houses (in years) (stored in Silver Spring Homes ):Please find A through M

Cell Styles Data Chapter 14: Introduction to Multiple LW 2 X V Address in S CO a. State the multiple regression equation. Asking Living Yearly Central Parking Finished b. Interpret the meaning of the slopes in this equation. Address Price Lot Size Space Taxes A/C Bedrooms Bathrooms Age Spaces Basement Brick Fireplace c. Predict the mean taxes for a house that has an asking price of ANM 218 Windridge Acres Court 450.0 0.27 2040 4176 in 2424 White Horse Lane 539.0 0.41 2661 5004 $400,000 and is 50 years old. N HOO 12103 Bushey Drive 309.0 0.14 1188 2868 OO d. Perform a residual analysis on the model and determine whether 14 Wellwood Court 549.0 0.43 2710 5088 HOHH in u the regression assumptions are valid. 11511 Bucknell Drive 494.0 0.22 2312 4584 3 O e. Determine whether there is a significant relationship between 1007 Nora Drive 425.0 0.29 2081 3948 2609 Weisman Road 419.9 0.19 2808 3900 56 taxes and the two independent variables (asking price and age) 1119 Netherlands Court 437.5 0.36 1860 4056 at the 0.05 level of significance. 1013 Robroy Drive 468.9 0.21 2140 4344 1 4404 Mahan Court 369.9 0.23 1475 3432 f. Determine the p-value in (e) and interpret its meaning. 10213 Colesville Road 550.0 0.12 1197 5100 g. Interpret the meaning of the coefficient of multiple determina- 508 Silver Spring Avenue 368.0 0.14 832 3408 tion in this problem. 1000 Hobbs Drive 489.0 0.59 1400 4536 h. Determine the adjusted r 12719 Feldon Street 369.9 0.18 936 3432 8816 Glenville Road 332.0 0.16 1848 3984 i. At the 0.05 level of significance, determine whether each inde- 7 1006 Carson Street 420.0 0.13 1181 3900 mummNNiniNimimi pendent variable makes a significant contribution to the regres- 18 8505 Mayfair Place 595.0 0.14 1375 5520 19 2004 Gatewood Place 550.0 0.21 2488 5208 sion model. Indicate the most appropriate regression model for 20 2302 Eccleston Street 439.0 0.16 1131 4068 HOHOHOHHHOHOHHOHOHOHHOHHHHHOHOHHOHHH this set of data 21 13519 Cedar Creek Lane 584.5 0.32 2758 5424 j. Determine the p-values in (i) and interpret their meaning. 22 11601 Mapleview Drive 450.0 0.18 1440 4176 23 2123 Cherry Leaf Lane 569.0 0.27 2807 5292 k. Construct a 95% confidence interval estimate of the population HOOHHHOOHHHOHOHHHHOHHHHOHHOO M O O O O HO OOHOOHONHHHONNOHHNONOON 24 2700 Bel Pre Road 459.9 0.37 1483 4272 slope between taxes and asking price. How does the interpretation 25 15530 Thompson Road 669.9 0.78 3313 621 HOHHOHOHOOOHHOHOHHOHO of the slope here differ from that of Problem 13.77 on page 471? 26 11401 Clara Street 418.0 0.17 1652 3876 HOHHH 27 10624 Eastwood Avenue 469.0 0.15 1329 4356 1. Compute and interpret the coefficients of partial determination. 28 509 Jaystone Place 579.0 0.59 2634 5376 m. The real estate assessor's office has been publicly quoted as say- 29 2405 East Gate Drive 479.9 0.37 2799 4452 ing that the age of a house has no bearing on its taxes. Based 3420 Kilkenny Street 480.0 0.27 1891 4452 810 Venice Drive 464.9 0.29 131 4308 on your answers to (a) through (1), do you agree with this state- 32 305 Southwest Drive 459.9 0.39 2201 4272 ment? Explain. 33 13116 Hutchinson Way 619.0 0.25 3160 5748 w in in w in w w in 34 1704 Lansdowne Way 599.0 0.16 1442 5556 14.77 A baseball analytics specialist wants to determine which 35 1626 Maydale Drive 599.9 0.50 2304 5568 m N variables are important in predicting a team's wins in a given 36 9304 Wire Avenue 585.0 0.16 1363 5424 H HC 37 11605 ConneCourticut Avenue 499.9 0.15 1276 4644 n u 38 2306 Falling Creek Road 504.9 0.42 2220 4680 520 DATA 100%